Brokerages Set BankUnited, Inc. (BKU) Target Price at $41.10
Shares of BankUnited, Inc. (NYSE:BKU) have been assigned an average rating of “Buy” from the fifteen brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $41.10.
BKU has been the topic of a number of research analyst reports. ValuEngine cut shares of BankUnited from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Morgan Stanley reissued an “overweight” rating and set a $39.00 price objective (down previously from $40.00) on shares of BankUnited in a research report on Thursday, July 6th. BidaskClub cut shares of BankUnited from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 16th. Bank of America Corporation reissued a “buy” rating and set a $46.00 price objective on shares of BankUnited in a research report on Monday, July 10th. Finally, BMO Capital Markets reissued a “hold” rating and set a $40.00 price objective on shares of BankUnited in a research report on Friday, July 7th.
Shares of BankUnited (BKU) traded up 2.11% during mid-day trading on Friday, hitting $34.30. The stock had a trading volume of 720,536 shares. BankUnited has a 1-year low of $28.13 and a 1-year high of $41.00. The firm’s 50 day moving average price is $33.31 and its 200 day moving average price is $34.55. The company has a market cap of $3.66 billion, a P/E ratio of 15.35 and a beta of 1.07.
BankUnited (NYSE:BKU) last released its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.04. The company had revenue of $269.48 million for the quarter, compared to analysts’ expectations of $258.47 million. BankUnited had a net margin of 19.54% and a return on equity of 9.81%. During the same quarter in the prior year, the firm earned $0.52 EPS. Analysts predict that BankUnited will post $2.37 earnings per share for the current fiscal year.
In related news, Chairman John Adam Kanas sold 200,000 shares of the firm’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $32.65, for a total value of $6,530,000.00. Following the transaction, the chairman now owns 948,070 shares of the company’s stock, valued at approximately $30,954,485.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jeffrey Starr sold 7,445 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $35.08, for a total transaction of $261,170.60. Following the completion of the transaction, the insider now directly owns 29,000 shares in the company, valued at approximately $1,017,320. The disclosure for this sale can be found here. In the last ninety days, insiders sold 586,035 shares of company stock worth $19,373,735. 5.10% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd lifted its position in BankUnited by 142.0% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 17,412 shares of the financial services provider’s stock valued at $587,000 after acquiring an additional 10,217 shares in the last quarter. Nomura Holdings Inc. lifted its position in BankUnited by 41.8% in the 2nd quarter. Nomura Holdings Inc. now owns 11,386 shares of the financial services provider’s stock valued at $384,000 after acquiring an additional 3,355 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in BankUnited by 54.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 268,720 shares of the financial services provider’s stock valued at $9,058,000 after acquiring an additional 95,253 shares in the last quarter. BlueCrest Capital Management Ltd bought a new position in BankUnited in the 2nd quarter valued at about $276,000. Finally, State Street Corp lifted its position in BankUnited by 5.4% in the 2nd quarter. State Street Corp now owns 4,027,935 shares of the financial services provider’s stock valued at $135,782,000 after acquiring an additional 207,520 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.
BankUnited, Inc is the bank holding company of BankUnited (the Bank). The bank is a national banking association. As of December 31, 2016, the Bank provided a range of banking services to individual and corporate customers through 94 banking centers located in 15 Florida counties and six banking centers in the New York metropolitan area.
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